Small cap news round-up
Evgen Pharma
AIM-listed Evgen Pharma has signed a services agreement with a consortium of Cheshire-based drug developments firms for its sulforaphane product.
APT Trans, the consortium of drug developers based in the Biohub at Alderley Park, which comprises of Aptus Clinical, Apconix and Seda Pharmaceutical Development Services, aims to help clients transform promising molecules into valued medicines.
Angle
Medical technology company Angle has been chosen to take part in Cancer-ID, a European consortium to validate blood-based biomarkers for cancer, by providing a number of Parsortix instruments and associated consumables for evaluation.
The evaluation phase, which runs until 2020, will assess the suitability of Angle's Parsortix system being adopted as a standard circulating tumour cell harvesting system to be used alongside different molecular analysis techniques in standard operating protocols.
Plastics Capital
AIM-listed manufacturer Plastics Capital anticipates that full-year results will be in line with expectations after revenue in the third quarter exceeded forecasts.
The plastics company said that third quarter revenue were ahead of expectations following stronger than anticipated demand, while the gross profit margins remain “good”but a little lower historically, due to a change in the business mix from the acquisition of Synpac, a manufacturer of vacuum bags and pouches in July 2016.
First Property Group
AIM-listed investor First Property Group has, along with a club of investors, agreed to buy Pilot Tower, a recently built office building in Krakow, Poland, for about €23m.
Completion of the deal, which is subject to receiving a ruling on the tax treatment of the transaction, is expected to take place in the second quarter of 2017.
LGO Energy
LGO Energy confirmed on Monday that final approval was granted by the Trinidadian Forestry Department on 10 February to cut trees in order to clear the well sites for the impending two shallow infill wells at the Goudron Field in the east of the country.
The AIM-traded firm said site clearance work would now start at H18E N4 and final preparations will be made to mobilise rig 18 to the Field.
Firestone Diamonds
AIM-listed Firestone Diamonds has sold all 75,936 carats of diamonds recovered from its 75%-owned Liqhobong diamond mine in Lesotho.
The company achieved an average price of $107 per carat and total sale proceeds came in at $8.14m.
EG Solutions
Shares in EG Solutions soared on Monday as the back office software company anticipates that revenue for the year will be in line with expectations after the implementation of its strategy to profitably scale the business.
At the beginning of the second half of the year, the company embarked on a strategy to profitably scale the business through a focus on sales, broadening and increasing its distribution channels and efficiency deploying internal resources.
Chaarat Gold
Chaarat Gold's shares have flown up almost 12% after the company received received unanimous expressions of support for its operations and investment plans for the Tulkubash Project in the Kyrgyz Republic from senior political leaders there.
"I have just returned from a visit to the Kyrgyz Republic during which I met the Prime Minister, the Speaker of the Parliament and two previous Prime Ministers," said chair Martin Andersson in a statement.
Surface Transforms
Carbon fibre reinforced ceramic materials manufacturer Surface Transforms posted its half-year financial results for the six months to 30 November on Monday, with turnover decreasing to £0.33m from £0.78m in the first half of the prior year.
The AIM-traded company said its total comprehensive loss widened to £0.98m, from £0.12m, with £0.31m of that difference related to the late receipt of a tax credit eventually received in January 2017.
Nu-Oil & Gas
Shares in Nu-Oil & Gas are down more than 2% on confirming G2 Energy has successfully completed its due diligence on EL1070, which is offshore western Newfoundland.
G2 Energy has an exclusive option to earn 100% of Nu-Oil & Gas' working interest in the Deep Rights on EL1070, with the company's wholly owned subsidiary, Enegi Oil Inc, retaining a 5% gross overriding royalty should the option be exercised.